Zurich, Switzerland; May 13, 2025 – RULEMATCH, the interbank spot crypto trading venue designed exclusively for financial institutions, today announces its integration with Talos, the premier provider of institutional trading technology and connectivity for digital assets. Through this integration, shared clients can access the guaranteed liquidity available from designated market makers on RULEMATCH directly from the Talos order and execution management system (OEMS).
Founded in 2021, RULEMATCH was built to serve the needs of financial institutions. The trading venue is distinguished by its institutional-only participant base, stringent market access controls, and market structure modelled on traditional finance — including a defined trading day, opening and closing auctions, and T+1 multilateral net settlement using DvP (delivery versus payment)..It also offers some of the lowest latency in the industry with execution speeds down to 25 microseconds.
“We are excited to join forces with Talos with the goal of better serving the broad range of financial institutions doing business in crypto,” said Stefan Lütolf, Chief Commercial Officer at RULEMATCH. “With this integration, our shared clients can benefit from the increased capital efficiency, reduced counterparty risk, and enhanced compliance of RULEMATCH – while also using the many features of the Talos system.”
RULEMATCH acts as a neutral market operator, bringing together the buying and selling interests of its participants. Currently a spot market in a central limit order book (CLOB) for bitcoin (BTC), ether (ETH) and USDC versus US Dollars, the RULEMATCH trading venue provides guaranteed liquidity through designated market makers and liquidity providers. In addition, RULEMATCH leverages Nasdaq’s pre-trade risk, matching engine and surveillance technology, helping to ensure institutional-grade market operations.
“We are thrilled to add RULEMATCH to the Talos Provider Network,” said Daniel Packham, VP and Head of EMEA Operations at Talos. “Their focus on an institutional-only participant base, combined with high-grade market controls and technology, directly supports our goal to offer clients access to the most trusted and compliant liquidity venues globally.”
RULEMATCH is open to regulated financial institutions from Switzerland and equivalently regulated countries. Participants therefore trade with counterparties that operate within aligned regulatory frameworks. All participants are subject to verification, ongoing trading oversight, and transfer screening, ensuring the highest standards of compliance and market integrity.
About RULEMATCH
RULEMATCH is the premiere digital asset trading venue for financial institutions. It acts as a market operator for spot trading of the most liquid cryptocurrencies vs fiat. RULEMATCH is never a counterparty in trading. Fiat funds are held in fiduciary accounts with a state-guaranteed, AA+-rated Swiss bank and cryptocurrencies are handled on fully segregated wallets. With integrated multilateral clearing and post-trade settlement, as well as institutional-grade trading technology, RULEMATCH helps provide ultra-low latency, capital efficient trading and robust market integrity. Its offices and operations are located in Zürich. Its participant network is open to banks and securities firms only and limited to select countries. RULEMATCH is not available to US-based financial institutions. For more information, visit: www.rulematch.com.
About Talos
Talos provides institutional-grade technology that supports the full digital asset investment lifecycle, including liquidity sourcing, price discovery, trading, settlement and portfolio management. Engineered by a team with unmatched experience building institutional trading and portfolio systems, the Talos platform connects institutions to key providers in the digital asset ecosystem – exchanges, OTC desks, prime brokers, lenders, custodians, and more – through a single interface. For additional information, visit www.talos.com.
Talos Disclaimer: Talos offers software-as-a-service products that provide connectivity tools for institutional clients. Talos does not provide clients with any pre-negotiated arrangements with liquidity providers or other parties. Clients are required to independently negotiate arrangements with liquidity providers and other parties bilaterally. Talos is not party to any of these arrangements. Services and venues may not be available in all jurisdictions.